Pakistan Strategy - May'23 Market Review & Outlook, (AKD Daily, Jun 01, 2023)
AKD Daily
Pakistan Strategy - May’23 Market Review & Outlook
- KSE100 Index closed on a negative note during the month, with the index decreasing cumulatively by 250ppts to end at 41,331 points, a decline of 0.6%MoM
- In April'23, Pakistan recorded a current account surplus of US$18mn, a significant decrease from the previous month's surplus of US$750mn
- Cement, paper & board and food sectors remained in the limelight on the main board during May’23, majorly due to declining coal prices internationally and overall sentiment regarding increasing authorized share capitals.
- With regards to the FIPI movement, E&Ps and Banks remain the favorites of foreigners with net buy of US$7.8/0.3mn, while Food and Others remained the least favorite with a monthly outflow of US$3.2/3.15mn
- Going forward, a successful IMF program following the annual budget to be announced in early June’23, alongside much sought after political stability will determine the market’s fate
AKD Research
AKD Securities Ltd. is one of the leading securities firm in Pakistan, providing a comprehensive range of investor focused services, including equity brokerage, economic and securities research, investment banking and financial advisory services. AKD Securities accounts for more than 6% of the average daily value of the Karachi Stock Exchange. AKD Securities was the first brokerage house to launch an online trading platform in Pakistan in November 2002 and now has the largest market share with over 6000 customers. This has helped diversify and expand the retail investor base in the country and ushered in a whole new universe of investors to the stock market.
AKD Securities Ltd. caters to a diversified group of domestic and international institutional investors, high net worth individuals and upscale retail clients, including expatriate Pakistanis. With high quality research, unparalleled execution and distribution capability for both regular and large block trades, AKD Securities Ltd. has earned an outstanding reputation in the Pakistani securities industry.Outside of commercial banks, AKD Securities Ltd. is one of the biggest capital market firms in the country. AKD Securities is the leader in raising and providing risk capital in underwriting, market making and mergers and acquisitions in Pakistan. Good corporate governance and professionalism are emphasized throughout the firm and AKD Securities Ltd. is amongst the very few companies to have introduced a firm-wide comprehensive CODE of ETHICS, overseen by an independent compliance manager.Ultimately, our success is based on the quality of service we provide to our customers and the trust and confidence reposed in us by them. Our focus, therefore, remains on customer satisfaction at all levels in the company.
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